The Bank of Russia has proposed changes in policy to allow large investors to directly purchase and trade cryptocurrencies in significant volumes over a three-year experimental period.
New Policy and Its Features
Under the plan, only 'specially qualified investors' would be permitted to conduct cryptocurrency transactions within this experimental framework. This new status would be available to citizens with investments in securities and deposits exceeding 100 million rubles or those with annual income over 50 million rubles.
Who Can Participate in the Experiment
Financial institutions currently classified as qualified investors would also be eligible to participate. These include banks, insurance companies, brokers, trust managers, non-state pension funds, and investment fund management companies.
Impact on the Cryptocurrency Market
Bitcoin is likely to be the primary focus of these investments due to its status as the most established and truly decentralized cryptocurrency. The Central Bank's proposal aligns with new regulatory requirements for digital assets, providing the potential for new capital to enter the cryptocurrency market through Russian institutional investors with significant financial resources.
This development expands cryptocurrency access in Russia, opening a pathway for institutional capital to enter the market, with Bitcoin likely being the primary beneficiary due to its decentralized nature and established market position.
